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Petrobras asset sales unaffected by impeachment

RIO DE JANEIRO (Bloomberg) -- Political turmoil in Brazil shouldnt stop Petrobras from completing asset sales it has already opened up to bidders, according to one company vying for the state-controlled drillers Bauna offshore field. An imp......【More】

2016-05-10

Saudis' new oil boss seen chasing record output to stymie shale

RIYADH (Bloomberg) -- Saudi Arabia will probably keep producing crude at near-record levels under its newly appointed oil minister, Khalid Al-Falih, as the worlds largest exporter sticks with his predecessors policy of defending market shar......【More】

2016-05-09

Chesapeake Energy jumps as shale gas auction accelerates

OKLAHOMA CITY (Bloomberg) -- Chesapeake Energy Corp. surged after the shale gas explorer signed a deal to sell Oklahoma drilling rights to Newfield Exploration Co. for $470 million. The deal brings total asset sales announced so far this ye......【More】

2016-05-06

Petrobras to sell Argentina, Chile assets for $1.4 billion

RIO DE JANEIRO (Bloomberg) -- Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion, as Brazils state-controlled oil producer looks to raise cash and focus on deepwater projects in Brazil. The Rio de Janeiro-base......【More】

2016-05-05

As OPEC infighting continues, U.S. becomes swing producer

HOUSTON -- When OPEC members couldnt agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartels reign as the worlds energy swing producerleaving the door open for American shale produce......【More】

2016-05-04

Oil falls below $45 as Iraq exports approach record

NEW YORK (Bloomberg) -- Oil declined for a second day as Iraqs exports approached a record high in April, adding barrels to a worldwide supply glut that has pushed prices lower. Futures settled below $45/bbl in New York after rallying to a......【More】

2016-05-03

Top oil service firms mull North America retreat as losses mount

HOUSTON (Bloomberg) -- Two of the three largest oil rig operators and fracers are considering pulling back from the North American market as losses mount. Schlumbergerafter posting its first North American operating loss since at least the......【More】

2016-04-29

WTI climbs above $45 amid U.S. crude output drop, Fed statement

NEW YORK (Bloomberg) -- Oil closed above $45/bbl in New York for the first time since November after U.S. crude output dropped and Federal Reserve policy makers signaled theyre open to raising interest rates in June. Crude production fell t......【More】

2016-04-28

Crude oil increases as excess global stockpile seen shrinking

NEW YORK (Bloomberg) -- Oil rose amid signs that a global surplus is gradually diminishing, even as markets remain oversupplied. Futures climbed as much as 2.4% in New York after slipping 2.5% Monday. BP CEO Bob Dudley, who in February joke......【More】

2016-04-27

Saudi prince says Aramco valuation above $2 trillion

RIYADH, Saudi Arabia (Bloomberg) -- Saudi Arabias Deputy Crown Prince Mohammed bin Salman said he expects the value of Saudi Arabian Oil Co. to exceed $2 trillion as the kingdom prepares to sell part of the company in what could be the worl......【More】

2016-04-26